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  5. 4.1 Economic Indicators & Measuring Economic Health
4.1 Economic Indicators & Measuring Economic Health

4.1 Economic Indicators & Measuring Economic Health

Assessment

Presentation

•

Social Studies

•

9th - 12th Grade

•

Practice Problem

•

Easy

Created by

Marlee McNamee

Used 3+ times

FREE Resource

26 Slides • 18 Questions

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Multiple Choice

Which of the following best describes the focus of macroeconomics?

1

Overall economic performance and behavior

2

Individual consumer choices

3

Business management strategies

4

Stock market trends

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Multiple Select

Which of the following are considered the big three economic goals?

1

Economic Growth

2

Price Stability

3

Low Unemployment

4

High Interest Rates

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Fill in the Blank

The total value of all goods and services produced in a country is known as ___.

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Multiple Choice

Which of the following is NOT a component in the GDP formula?

1

Consumer Spending

2

Investment

3

Imports

4

Interest Rates

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Multiple Choice

GDP includes which of the following?

1

Restaurant meals

2

Used car sales

3

Household work

4

Illegal activities

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Fill in the Blank

The unemployment rate measures the percentage of the labor force that is ___ seeking work.

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Open Ended

Explain the difference between inflation and deflation, and discuss how each can impact economic growth.

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Multiple Choice

Which of the following best describes 'creeping inflation'?

1

A slow and steady rise in prices (1-3% per year)

2

A rapid increase in prices (double or triple digits)

3

Extremely high, out-of-control inflation (hundreds or thousands of percent)

4

A decrease in prices over time

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Multiple Choice

What is included in the 'market basket' used to calculate the Consumer Price Index (CPI)?

1

Everyday items like food, housing, clothing, transportation, and healthcare

2

Luxury goods and services only

3

Only food and beverages

4

Stocks and bonds

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Fill in the Blank

The CPI is calculated by selecting a base year, comparing the cost of the market basket each year to the base year, and calculating the percentage change to find the ___ rate.

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Multiple Choice

Which of the following are effects of changes in the Consumer Price Index (CPI)?

1

Cost of living adjustments for wages, pensions, and social security

2

Interest rates set by the Federal Reserve

3

Business decisions on pricing and wages

4

All of the above

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Multiple Choice

Which of the following best describes the business cycle?

1

It shows the natural rise and fall of economic activity over time.

2

It is a government policy to control inflation.

3

It only measures unemployment rates.

4

It is a one-time event in an economy.

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Multiple Select

Which of the following are characteristics of the expansion phase of the business cycle?

1

Economy grows, GDP rises

2

Unemployment rises

3

Consumer confidence and spending increase

4

GDP falls

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Multiple Choice

During which phase of the business cycle does GDP fall and unemployment rise?

1

Expansion

2

Peak

3

Contraction (Recession)

4

Trough

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Fill in the Blank

The lowest point of the business cycle is called the ___.

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Open Ended

Explain how governments and businesses respond to different phases of the business cycle.

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Multiple Choice

Which of the following is NOT an economic indicator used to measure economic health?

1

GDP

2

Unemployment rate

3

Inflation

4

Weather patterns

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Open Ended

How do GDP, unemployment, and inflation help us understand the health of an economy?

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